Bitcoin Forum

Ok So first of all many might remember me from the Exotic Car thread so Hi there yes I m still here.

So Ive finally received a green signal from my sponsor to go ahead and develop the beta public version of KROGYAN (https://bitcointalk.org/index.php?topic=176877.msg1841315#msg1841315)

and since I m from India which is where this site would be hosted & operated from, there are a few limitations when it comes to direct exchange of Bitcoins with Cash.

So I was thinking if I could create the site where people could first buy CREDITS with Indian money which is equivalent to the current USD/INR rate at the time of purchase. Then they could use those credits to buy BTC/LTC at the market rates from within the exchange.

Kind of like how Virwox works. But when I look at it virwox or btc-e, they are very uncomplicated (code wise) when compared to Gox or coinbase or blockchain.

Anyways the unique thing about this exchange would be the introduction of traditional Margin trading using Short/Long trades by borrowing funds from the market/lenders & hence a separate desktop platform.


So what do you guys think ?? what should be the first step taken towards creating this website and which scripting language would be best suited for this task which would allow easy integration between a desktop client and the website.


I enjoy trolls and troll along with them but try to keep this as less spammed as possible :) Thanks

Epic poll.

 ;D

Definitely Matlab.

I'm all for Java / Javascript! ;)

Isnt that less secure ?

Hm... haven't thought of it that way, I thought you wanted the easiest possible integration, not the most secure option?

This just goes to show 'Best' is a relative term.

I did not even read OP's first post, but judging by the poll, he should not undertake the project.

Yes, the poll is a bit ... wide in scope to be politically correct.

Now, I'm not sure if you're an actual software developer or a internet property developer so I'll try to cover both :)

If you plan on developing this yourself I suggest you use the technologies you know best if they are aplicable to the project scope. I doubt Mathlab or Flex would be good ideas though. Depending on your skillset you might want to find at least another person to join the team, a project of this size and potential risk should not be taken lightly.

If you're in it to develop the business then things are different. The first step would be to figure out a realistic budget alocation for the design and development part of the business.

Depending on the figure you come up with you will have have access to different technologies and talent for your team. I suppose it will become a choice between releasing something cool fast and then update if it takes off or building it heavy duty from the ground up. I don't know what your exact plans are but I generally advise a release early, update often approach. This way you can test the concept fast and make use of invaluable customer feedback rather than risking to blow your budget too soon on non-essential stuff.

Now, your question was about the development technology and I went a bit off-path. I think you should go with the classical php back-end with a smartly designed responsive front-end with well optimised ajax integration (includes JS, obviously). You could also try Ruby, bit hipster but quite cool and effective.

You shouldn't need much more than that to get you started and in the mean time if all goes according to plan you can invest in optimizing the most crucial parts of the business or doing a whole new back end if you feel you need to scale it to enterprise levels. Once you get there I'm sure you'll find a suitable technology, like Java with it's many enterprise level frameworks. However, the deeper you go into big business territory, the more expensive the technologies and the talent.

Hope this helps.

Cheers!

PS : Don't skimp on the user interface and experience :)
PS2 : Don't group Java and JS together :)

Please write an exchange in mathlab, that would be the most secure and greatest exchange ever!!!!

Mate you should read ;)

7 Billion dollar industry bro.

Thank you for your really really helpful insight.
off course I will not be in this alone, I hardly specialize in 2 of the mentioned languages, I m planning to launch an Elance project to hire the most efficient team to get things started, hence the whole scripting language question.

I totally agree with your release early and update frequently approach and is something what I am aiming for, but lets face it none of the exchanges out there right now are anything but perfect, so I was hoping to learn from their mistakes.

Like someone said developing something in Matlab would be the most secure thing ever, whilst personally I dont have the level of skillset required in Matlab to pull this off hence I will hire someone.

But what about the desktop application ? will php/ajax/ruby successfully and securely integrate with the desktop application ?

You're welcome, I'm glad I can help.

You initially said that you wanted to start a site. If you want to build a desktop (and maybe a mobile) app then you can keep using your sites' back-end (via API) and build the application with the most suitable technology for the platform you're targeting. Sadly I'm not exactly qualified to advise you on the specifics of this so I wouldn't want to point you the wrong way. Having said that, Java seems to be a pretty good idea to get this done.

I think that you should consider putting together (at least) a quick specifications document and hire a reputable web consultant for a couple of hours of their time. Good advice at this stage will likely have a big impact on the way you go about the project. While getting peer input and suggestions is great, it might not be your best source of information at this stage in your project.

If I may also give you another tip, don't hire cheap providers on eLance or any other marketplace. Investing in the wrong people is the worst thing you could do in a start-up. Not only do you lose money in the long run but you lose momentum and that is critical. In my opinion you should hire at least above $20/h if you want good results.

Good luck!

Where is C#?  I'd use Mono over Java any day.

A couple of programming languages on the list are not scripting languages as far as how 'a scripting language' is defined. Some of them are good for the back end platform and others are good for the front end. A combination of some of them may be needed.

I thank everyone of you for providing crucial suggestion to me. I will keep this post updated with any new steps that I make with Krogyan.

I would be looking to help develop a crypto-exchange with JS for equity

I ll send you a pm.

There is at least some precedence and support for c#, so if anything thats a far second.  Problem is its Microsoft.  Java is hands down the best solution.

I did look at some of the buttercoin code, built in nodeJS, clearly js is not the best choice.

Anyone interested in talking about  my experiences building an exchange in Java pls PM me.  Thx.

Matlab?  Are you people kidding? A lot of silly amateurs on this list.

I was thinking about it.  MATLAB has some very optimized numerical schemes.  The trading engines suffer from inability to solve optimization problems, for which MATLAB produces outputs quickly, IMO.

The mathematica kernel could also run a mean trading engine.  Agreed combinations are what will give best results.

You have to do a lot more proving before you can call out people amateur & silly.
In all seriousness I did message you.

When you create it, I'd be up for a white label version for the European market.

I think instead of opening up small exchanges in different countries we should integrate and create one large network of exchanges present in various countries. But lets not get ahead of ourselves. I still havent figured out the basics yet.

How is C++ a scripting language?


Also, please add assembly.  8)

Machine language is the only.

assembly for an exchange site?  ;D ;D
of course its php, python or ruby.
The easiest ones, it depends where you gonna host it.

Do you think python can outperform matlab in speed?  trade lag is the major complaint these days.

Not talking about cryptsy's EPIC level of shittyness...I'm convinced even when cryptsy cleans up its act, there is something deeply wrong with the way their engine is built.

BTC-e is the best, and I even notice the lag there.

Here's a paper on MATLAB vs C++ speeds http://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1080&context=aerosp

Don't know if this is naive, can wallets have an exchange feature?  I already doubt it listening to myself, just a serious Q

No but exchanges have wallets.

Wallets are like your pocket/bag for a certain currency, and if you want to exchange BTC for LTC or USD use an exchange, hence ALL exchanges have wallets.

Well this poll is just dumb. You'll need a combination. If you go the PHP route, you'll also need some javascript and ajax. If you go the ruby route, you'll need something like ruby on rails.

Many of the languages listed are not functional, or are, at best, barely functional.  For example, you'd have a hell of a time writing a functional exchange in C++, but writing an objected oriented exchange would probably be fairly easy.

Thank you for your input.

From the front end, going down the stack:
HTML5 & CSS
JQuery
Javascript
Bootstrap
Angular
Ajax
---
Nginx
Restify
Node.js
MongoDb

we wrote the core of an exchange in go. ran pretty nice :)

too bad it's nearly fucking impossible to setup an exchange in the US.

Why isn't Erlang an option? I am mad disappointed.

What are the advantages of it ? I m a geek not god I dont know about all the languages in programing world :P
Someone mentioned Golang here and I checked it out, really nice :)

Just a little advice, I wouldnt (IMO) create an exchange in php unless you seriously know how to keep yourself protected. C++ (if done right) would bear the nicest fruit and would allow for more flexible moves to be made with it. But, that is just one perspective I suppose.

The language used doesn't matter that much. A good programmer (or team of programmers) should be able to conjure up something that is both secure and relatively fast in most programming languages. While something like PHP is regularly associated with insecure websites, this comes primarily from programmer sloppiness rather than flaws in the language.

That said, I want to see an exchange programmed in Brainfuck (http://en.wikipedia.org/wiki/Brainfuck).

Omg yes. Brainfuck is the best (and first) language I learned, simply because of its name.

Every time I open this thread I find new stuff, that is why I even started it, to get all the options. Golang and now this Brianfuck - seriously though after what (little) I read about it I really dont thing it would be secure at all.

As far as security concerns go I've seen very well designed js websites bogged down with security concerns, and I agree a lot of times it does boil down to rather how a program is coded instead of what language was used to write it with.

Erlang is awesome. The number one advantage is that the entire language is modular, and, at any time, you can replace code within the VM without interrupting the functionality of the script. It's designed to be run constantly, and changes are made to be extremely simple.

To be fair, it is EXTREMELY hard to learn at first. It's not exactly friendly to anyone who isn't skilled at programming in general.

NODEJS ...

Is there anyone who want to create an exchange? I am looking for people to build it togheter? Please priv me...

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I know.  But I'm thinking:

Suppose that in my bitcoin wallet software program, suppose there is a tab that says "exchange."  I input an amount of BTC in some field to send to some address and select a coin to exchange (one that is supported.  Let's say LTC, for no reason).  

The bitcoin wallet talks to my litecoin wallet, as well as my exchange partners bitcoin and litecoin wallets.

Ultimately, this would require the bitcoin and litecoin wallets to be one piece of software.

I'm actually kinda wondering now why multi-wallets aren't around.  If they were, this would be a natural conclusion.  I guess this is like a client side engine, rather than server side.

This has been talked about time and time again, but no progress has ever been made on it AFAIK

The real reason why no progress has been made is simple, you are cutting out the commission the 'exchanges' (one like the one I m involved with in this topic) hence its not profitable.

Also there are subtle differences between the scripts of the coins making it further difficult to embark on such a quest.

And this goes without saying that such a platform could greatly devalue and destabilize the market for the primary virtual currency that you are using to exchange with.

Even if something like this did exist, it will be purely experimental and server based, I dont see how a client side application can efficiently pull this off.

But it would be so kool.

I am working with a lot of funding and need an expert developer or team of developers that can create an exchange. I have the financing, banking and everything else in place. This is a paid position and/or stock options/equity in the new company. If you want to get in on ground level of something huge, now is the time. Our background is internet advertising so once this platform is done it will quickly become the platform/exchange of choice. Please contact me if you can help!

I think we are working on parallel lines, I m not looking to program an exchange but rather develop one as a business venture, I have got one investor so far but he'll not be able to sponsor and account for everything I'd need to get this started.

I'll however shoot you a PM.

The idea is not have a 'simple to code' language, but rather to find a proper experienced developing team that specializes in that language.
With that said, i'll look into ERLANG.